UPI logs record 23.2 bn transactions worth Rs 29.90 lakh crore in May, up 19% YoY
Summer travel, IPL and seasonal consumer spending pushed UPI to its biggest month ever, eclipsing Rs 25.14 lakh crore in May 2024. Falling ticket sizes (Rs 1,313 vs Rs 1,848 in 2021) signal deeper everyday-spend penetration, while credit-on-UPI and cross-border rails open new retail growth pools.
What happened
UPI hit a record 23.2 billion transactions worth Rs 29.90 lakh crore in May, up 19% YoY, driven by summer travel, IPL and seasonal consumer spending. Average
Key facts
- 23.2 billion transactions
- Rs 29.90 lakh crore
- 19% YoY growth
- Rs 25.14 lakh crore (May 2024)
- avg ticket Rs 1,313 in 2025 vs Rs 1,848 in 2021
- live in 7-8 countries
Why this matters
The opening of credit-on-UPI and cross-border rails creates fresh M&A and partnership lanes in lending, remittances, and merchant-acquiring infrastructure worth scoping now.